Tips to renovating your short term rental
Frequent usage of your short term rental is a good thing for business but it also has a flip side. The more the usage, the more it wears down both as a structure together with furniture and fittings. It is therefore important to identify when your property needs to take a break to give it fresh life. This will give it the look, feel and appeal needed to keep your guests happy and comfortable thorough out their stay.
Timing
Short term rentals business is seasonal in nature and you want to ensure your rental is ready before the onset of the high season. Planning is key to achieving this objective and minimizing the loss in revenue during the time of renovations. Renovations should also be done when needed even if in the middle of high season. Major breakages on critical furniture or fitting will call for immediate action despite the season. You want to have your rental looking new for as long as possible.
Decide your budget
Deciding on a budget lets you know the scope of renovations you can undertake at a given time. Major renovations will need a high funds outlay and you might need to save for some time or go for credit if need be. Your budget will also determine the cost and quality of materials you need to buy. It will also help you understand the impact on your other financial plans and goals. If you are not well established in the short term rental business, you might have to dig into your personal finances to finance the renovations.
Make improvements
The whole purpose of renovations is to give a new lease of life to an existing or dilapidated asset. Look at your property and decide which areas need improvement or changes to better serve your target market. Think in the short and long term and include aspects that will be adaptable to changing needs or change in technology or otherwise.
Consider the Property Appeal
The appeal of the property to a visitor from the outside determines how they views what is inside and might also affect their opinion on your property and how they enjoy their stay. Renovations should include a spruce up on the fronting of the house to make it warm and appealing, it should also target the lawns, fence and the parking area if any is available. First impressions are important for your customers and they get it as soon as they set their eyes on your property.